Q4 2009
Quarterly Earnings
    Summary
Fourth Quarter 2009 Highlights
   Revenue growth of 17% Y/Y and 12% Q/Q
     Google properties revenue growth of 16% Y/Y a...
Quarterly Revenues
                   Q4’09 Y/Y Growth = 17%
                   Q4’09 Q/Q Growth = 12%
                   ...
U.S. vs. International Revenues
                                 ($ in
       5,186   5,367   5,541   5,701 5,509
        ...
Traffic Acquisition Costs




($ in millions)
Costs and Expenses




       Note: Please refer to supporting Table 1 for reconciliations of non-GAAP costs and
       ex...
Profitability




       Note: Please refer to supporting Table 2 for reconciliations of non-GAAP results of operations
  ...
Free Cash Flow
Overview of Q4 2009 OI&E and FX

In Interest Income and Other, Net, we recognized net income of $88M for Q4

    In Q4, th...
Table 1 - Reconciliations of non-GAAP costs and expenses
to GAAP costs and expenses
Table 2 - Reconciliations of non-GAAP results of operations
measures to the nearest comparable GAAP measures
Q4 2009
Quarterly Earnings
    Summary
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Q4 2009 Earnings Slides

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GOOGLE ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2009 RESULTS

MOUNTAIN VIEW, Calif. – January 21, 2010 - Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter and the fiscal year ended December 31, 2009.

"Google had a strong fourth quarter, with 17% year over year revenue growth," said Eric Schmidt, CEO of Google. "Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year. Our performance in 2009 underscored the strength of our management team, the resilience of our business model and the pace of innovation within our product and engineering teams, which continued unabated throughout the downturn. As we enter 2010, we remain hugely optimistic about the internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider web."

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Q4 2009 Earnings Slides

  1. 1. Q4 2009 Quarterly Earnings Summary
  2. 2. Fourth Quarter 2009 Highlights Revenue growth of 17% Y/Y and 12% Q/Q Google properties revenue growth of 16% Y/Y and 12% Q/Q Network revenues increased 21% Y/Y and 13% Q/Q International revenues were $3.5 billion Operational Highlights Strong financial metrics: revenue growth, profitability, and cash flow Investing in technological innovation: 70/20/10 Innovation in our more established business Search, Display, Enterprise Innovation in our new businesses Mobile/Android Innovation in long-view investments Commerce and social
  3. 3. Quarterly Revenues Q4’09 Y/Y Growth = 17% Q4’09 Q/Q Growth = 12% 6,67 4 5,70 5,94 5,54 1 5,50 5,52 5 5,18 5,36 7 1 9 3 6 ($ in millions)
  4. 4. U.S. vs. International Revenues ($ in 5,186 5,367 5,541 5,701 5,509 millions) 5,523 5,945 6,674 51% 52% 51% 50% 52% 53% 53% 53% 49% 48% 49% 50% 48% 47% 47% 47%
  5. 5. Traffic Acquisition Costs ($ in millions)
  6. 6. Costs and Expenses Note: Please refer to supporting Table 1 for reconciliations of non-GAAP costs and expenses to GAAP costs and expenses
  7. 7. Profitability Note: Please refer to supporting Table 2 for reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures
  8. 8. Free Cash Flow
  9. 9. Overview of Q4 2009 OI&E and FX In Interest Income and Other, Net, we recognized net income of $88M for Q4 In Q4, the interest income earned on our investments was $67M and we recognized $27M in realized gains. As a result of foreign exchange rates moving closer to the strike prices of our options in Q4 relative to Q3, we expensed only $8M related to our FX cash flow hedging program vs. $67M in Q3. Before hedging, the weaker USD relative to other currencies during the quarter had a positive impact of $112M on revenue compared to Q3 and a positive impact of $196M compared to Q4’08. In addition to the positive impact on revenue quarter-over-quarter and year-over-year due to more favorable FX rates, our cash flow FX hedging programs allowed us to recognize a benefit of approximately $8M to international revenue this quarter.
  10. 10. Table 1 - Reconciliations of non-GAAP costs and expenses to GAAP costs and expenses
  11. 11. Table 2 - Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures
  12. 12. Q4 2009 Quarterly Earnings Summary
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